Massachusetts Financial Services Co. MA grew its stake in Tenet Healthcare Corp (NYSE:THC) by 26.3% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 83,168 shares of the company’s stock after buying an additional 17,316 shares during the period. Massachusetts Financial Services Co. MA’s holdings in Tenet Healthcare were worth $2,367,000 as of its most recent SEC filing.
Other large investors also recently made changes to their positions in the company. Calamos Advisors LLC bought a new position in Tenet Healthcare during the third quarter valued at about $412,000. Strs Ohio grew its stake in shares of Tenet Healthcare by 5.4% in the 3rd quarter. Strs Ohio now owns 44,700 shares of the company’s stock valued at $1,272,000 after purchasing an additional 2,300 shares during the period. Alpha Windward LLC bought a new stake in shares of Tenet Healthcare in the 3rd quarter valued at approximately $447,000. Bowling Portfolio Management LLC bought a new stake in shares of Tenet Healthcare in the 3rd quarter valued at approximately $1,501,000. Finally, Versant Capital Management Inc bought a new stake in shares of Tenet Healthcare in the 3rd quarter valued at approximately $1,341,000.
Several equities research analysts have recently weighed in on the company. ValuEngine upgraded Tenet Healthcare from a “sell” rating to a “hold” rating in a research note on Thursday, November 1st. Barclays reiterated a “hold” rating and issued a $27.00 price objective on shares of Tenet Healthcare in a research note on Wednesday. Piper Jaffray Companies reiterated a “hold” rating and issued a $34.00 price objective on shares of Tenet Healthcare in a research note on Wednesday, August 8th. Zacks Investment Research upgraded Tenet Healthcare from a “hold” rating to a “buy” rating and set a $36.00 price objective on the stock in a research note on Wednesday, August 8th. Finally, Mizuho set a $36.00 price objective on Tenet Healthcare and gave the company a “buy” rating in a research note on Tuesday, August 7th. Three research analysts have rated the stock with a sell rating, ten have issued a hold rating and five have assigned a buy rating to the company. Tenet Healthcare presently has an average rating of “Hold” and an average target price of $30.56.
Tenet Healthcare (NYSE:THC) last announced its earnings results on Monday, November 5th. The company reported $0.29 EPS for the quarter, topping the consensus estimate of $0.11 by $0.18. The business had revenue of $4.49 billion for the quarter, compared to the consensus estimate of $4.37 billion. Tenet Healthcare had a positive return on equity of 47.38% and a negative net margin of 0.61%. Tenet Healthcare’s revenue was down 2.1% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.17) EPS. On average, sell-side analysts expect that Tenet Healthcare Corp will post 1.69 EPS for the current fiscal year.
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Tenet Healthcare Profile
Tenet Healthcare Corporation operates as a diversified healthcare services company. It operates in three segments: Hospital Operations and Other, Ambulatory Care, and Conifer. The company's general hospitals offer acute care services, operating and recovery rooms, radiology and respiratory therapy services, clinical laboratories, and pharmacies.
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